Granite Investment Partners LLC reduced its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,025 shares of the transportation company’s stock after selling 960 shares during the quarter. Granite Investment Partners LLC’s holdings in United Parcel Service were worth $1,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Wealth Management LLC bought a new position in United Parcel Service in the second quarter valued at approximately $102,000. Parkside Financial Bank & Trust raised its holdings in United Parcel Service by 17.3% in the first quarter. Parkside Financial Bank & Trust now owns 1,087 shares of the transportation company’s stock worth $116,000 after purchasing an additional 160 shares during the period. First PREMIER Bank raised its holdings in United Parcel Service by 5.0% in the second quarter. First PREMIER Bank now owns 1,047 shares of the transportation company’s stock worth $116,000 after purchasing an additional 50 shares during the period. Ullmann Financial Group Inc. acquired a new stake in United Parcel Service in the first quarter worth $126,000. Finally, Winslow Evans & Crocker Inc. raised its holdings in United Parcel Service by 261.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,243 shares of the transportation company’s stock worth $137,000 after purchasing an additional 899 shares during the period. 52.86% of the stock is currently owned by institutional investors and hedge funds.

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United Parcel Service, Inc. (NYSE:UPS) opened at 117.70 on Friday. The company has a market cap of $101.92 billion, a P/E ratio of 28.94 and a beta of 0.90. The stock has a 50 day moving average of $116.45 and a 200-day moving average of $110.33. United Parcel Service, Inc. has a 12 month low of $102.12 and a 12 month high of $120.80. United Parcel Service also saw some unusual options trading activity on Wednesday. Investors bought 8,546 put options on the stock. This represents an increase of approximately 417% compared to the typical volume of 1,652 put options.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, July 27th. The transportation company reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.12. The company had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.49 billion. United Parcel Service had a net margin of 5.68% and a return on equity of 417.18%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share. Equities research analysts expect that United Parcel Service, Inc. will post $6.01 EPS for the current year.

In other news, EVP Alan Gershenhorn sold 17,699 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $114.10, for a total value of $2,019,455.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James J. Barber sold 3,556 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $110.85, for a total transaction of $394,182.60. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company’s stock.

Several equities research analysts have weighed in on UPS shares. Zacks Investment Research lowered shares of United Parcel Service from a “hold” rating to a “sell” rating in a report on Monday, July 17th. BidaskClub upgraded shares of United Parcel Service from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $127.00 target price on shares of United Parcel Service in a report on Monday, July 3rd. Citigroup Inc. upgraded shares of United Parcel Service from a “neutral” rating to a “buy” rating and increased their target price for the stock from $115.00 to $128.00 in a report on Tuesday, August 8th. Finally, TheStreet upgraded shares of United Parcel Service from a “c” rating to a “b” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $117.00.

About United Parcel Service

United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.

Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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